Hello traders,

Today I took a quick intraday trade on the Aussie (AUDUSD). You know, aiming for nothing but a fistful of pips before launch time for the lack on any better trading opportunity around.

Today’s trade is a clear example of Round Numbers as I explain them on chapter #4 of my Forex trading course, and more specifically how they work as “pivot points” for intraday price action.

In this particular case, I saw the Aussie breaking through the 0.9600 round number -which had worked as resistance yesterday- and I went long aiming for the next round number at 0.9650. The swing took place in quite a momentum considering the Aussie is a slow-moving currency pair and I managed to fish +26 pips within an hours and a half or so.

Let me show you the live video here below.

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Hello traders!

Yes, only six pips off the mark… that how close today’s trade got from my final target!

Around noon London time I entered a short entry on GBPNZD upon breaking the low of the Tokyo session in the direction of the intra-week trade. Immediately after, price cruised south beautifully, and within the hour my final target was at my finger prints… but I was not to get lucky today apparently. Indeed, the GBPNZD pulled a U-turn up and as price loomed again over my entry level I decided to manually exit for a scratch trade barely enough to cover the spread cost.

Quite unfortunate really, as it would have been a 90-pip trade had price run just a little bit further.

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Hello traders,

Am I the only one finding CAD-strength across the board? I am seeing a few CAD-pairs tilting towards the side of the Looney.

In particular, I’d like to point out the EURCAD which is breaking through a long term up-trendline - if that breakout confirms, we might see further down-moves from 1.5400 to 1.5200, and I will try to squeeze some pips off that move. Moreover, the NZDCAD is also heavily trending south and I am just waiting for a pullback before searching for short opportunities.

But I reckon it’s best if I show you the setups in the following video!

PS: in yesterday’s video I was talking about EURAUD’s bounce off a long-term up-trendline, remember? well, have a look at EURAUD today: a solid bullish price action all day long! Like I always say, it does pay off paying attention to the long-term charts!

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Hello traders,

Well, after 10 relaxing days see-sighting around Central Europe, it’s time to go back to work. As usual, on my first day after some time off I like to scan carefully through the charts, study the economical calendar, re-draw my support/resistance lines and basically dip myself into the charts once again.

Today’s I’d like to share two charts with you: USD/JPY (standing at a key S/R level in the Weekly chart) and EUR/AUD (a clear example as of why the longer time frames need to be checked out before jumping into a trade).

And please, don’t hesitate to drop your comments under this post.

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Hello traders,

Today I have taken the day off because it’s Labor Day here in Europe and thus the market volume during the London session was expected to be thin. One of my Golden Rules of Sensible trading is not trade on thinly-traded markets, and a continent-wide public-holiday certainly fits in that category.

None the less, I wanted to share with you a couple of interesting charts: EUR/GBP, which seems to be showing weakness right now despite the overall uptrend, and USDJPY which is sitting at a decision-taking level on the weekly chart as it’s banging onto long-term resistance (105.00). Should the Yen curl down from here we might see some new short opportunities worth following in the near future.

By the way, I am taking a 10-day holiday. I am going to visit Prague, Vienna and Budapest with my lady so I won’t be trading through the next week - I will be back on Monday 12th of May. Until then, I wish you a profitable and enjoyable Forex trading!

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